While your credit score and income plays a big role in whether your mortgage application is approved, there are other factors that are just as important.
All lenders consider these “5 C’s” when doing an overall risk assessment of your file.
Collateral → property type, location, marketability
Credit → beacon score, past credit history, issues and risks explanation.
Capacity → ability to repay loan, explain the debts, job stability and income
Capital → down payment amount and source, available closing costs
Character → willingness to repay loan, integrity, stable employment
As your mortgage broker, I will review these areas prior to submitting your file to the lender, resulting in a faster review and approval of your mortgage!
Get in touch with any questions, or to start your mortgage application
604.799.8133
mortgagesbyamytatla@gmail.com